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20130207
20130207
Search Results 0 to 6 of about 7 (some duplicates have been removed)
the 2011 debt ceiling disaster, and it is $1.7 trillion in cuts. there is not a dime of new revenue there. here is the chart when you add the $737 billion in new revenue agreed to during the fiscal cliff deal. republicans are winning the battle, wouldn't you say, when it comes to balancing? over two-thirds of deficit reduction has come from cuts to domestic programs, and it's not exactly fair. but now the house progressive caucus has come out with what they call the balancing act. it's a common-sense plan to reduce the deficit by closing tax loopholes and cutting wasteful defense spending. here is the chart of the plan. there is $1.7 trillion in new revenue. the $1.7 trillion in spending cuts is still there. this looks like a much fairer chart than the current system, don't you think? and it's estimated to reduce the deficit by $3.3 trillion. remember, we're trying to hit $4 trillion. so we're getting closer. the plan ends tax loopholes for yachts and for jets. it reduces the corporate meal and entertainment deduction to 25%. you can't write off the whole dinner anymore. it ends fossil fu
in august of 2011, we ended up passing the budget control act tied with the debt ceiling issue. and out of that, the administration -- through that, the administration proposed, president obama proposed a measure which was designed to force the congress to deal -- to step up to the plate and deal with the real problem. the real problem is a continued deficit spending at a level which we cannot begin to contemplate. which has to be addressed because it's accumulated year after year after year. we are now at the point where the clock is ticking at $16.5 trillion of debt that we have gotten into, up nearly $5 trillion in just the last four years. and the math clearly proves and history clearly shows that this is unsustainable, and this is the great challenge before this congress, to do what is necessary to get us on the right path to fiscal health before it all comes down. we had a warning shot fired across our bow in 2009 as to the disattorney generals in our economy and the consequences were grave -- distortions in our economy and the consequences were grave. we had warning shots fired a
Search Results 0 to 6 of about 7 (some duplicates have been removed)

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